Contents tagged with Russian Government

  • Russia to introduce sausage tax

    The Russian government’s tax fever shows no signs of subsiding. In the wake of a VAT hike, an increase in excise duties on petrol and a tax on carbonated drinks, the Cabinet of Ministers is preparing to impose an excise duty on sausages and frankfurters, reports.

    The additional tax may amount to more than 160 rubles per kilogram of sausage, frankfurters or bacon. The Ministry of Health supported the initiative, saying that it will facilitate a healthy lifestyle for Russians, …

  • Russian government debt auction fails for third consecutive week

    For three weeks running, the Russian Finance Ministry has been failing in its attempts to borrow money on the market, reports.

    At the Federal Loan Bond (OFZ) auctions on Wednesday, the department was once again unable to sell the targeted amount. Out of a stated 20 billion rubles, the finance ministry was only able to raise 11.1 billion, despite the fact that buyers were offered notable discounts compared to market prices.

    Both auctions can be considered “failures”, commented Loko- …